Holiday Accommodation Deposits and Payments Information

One of the biggest concerns for holiday property owners is dealing with payment from guests. Visitors may often have their own reservations about handing over relatively large sums of money, especially if they have to do it months in advance, while holiday home owners are always eager to secure a booking and receive payment. As with all things to do with your vacation property rental, it is best to make things clear from the start and good communication will not only make the entire process as smooth as possible, it will also help avoid confusion.

• Consider sending a receipt. As soon as you receive payment from holidaymakers let them know. If you use email (and we advise all property owners handle their business online) inform the payer as quickly as possible. Follow up by posting a paper copy and take the opportunity to include property details and any promotional material you would like them to see.
• Stay in touch. Email really is the best way to communicate with your guests and also a fantastic opportunity to create a professional appearance. Do create templates and store messages, even create a set of ready to send emails for things like confirmations, booking enquiries and quotes.

Methods of Holiday Accommodation Payment

Here are a few details on the most common forms of payment and the considerations to bear in mind when using each one:

• Cheques. Besides a direct credit card payment, this is probably the easiest way to accept money. If your guests are in the same country there will be no administration charge. Cash cheques promptly and make sure they are clear before handing over keys.
• Credit Card. You'll need to let your bank know if you plan to accept credit cards. They will arrange a payment code and provide you with the information you need to give your customers.
• Bank Transfer. Be sure to include any bank charges and mark them clearly on your invoice. If money is being moved between countries you may need your IBAN & SWIFTBIC numbers, which are available from your bank.
• An increasingly popular method is to use PayPal. This online system requires you and your guests to have a PayPal account, but once established this is by far the simplest method of sending and receiving money. A small charge is made on every transaction and you should be sure to include these in any invoice. Tip. With instant transferral and a thorough system of checks, PayPal is ideal for last minute bookings.
• Cashiers Cheques. Rarely used, this form of payment is guaranteed by the issuing bank to have cleared funding.
• Cash. We do not recommend you accept prepayment in cash, especially if the money is being sent by post and we recommend you do not hand over keys until you are completely satisfied. Occasionally guests may request to settle the balance on arrival, which is an exception to the rule.